I may be an old-fashioned Gen X motherfucker but I still always cringe when I see that people trade on their phone. That was serious money - why not show it due respect by working on a proper computer or at least a laptop? (I'm not talking some 6+ monitor set up like some regards use.)
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So I did some research and read a bit about sentiments and outlooks. Most predicts 3 scenarios from from 5-10%, 10-15% and 20-30% depending on macro, fed, and risk off.
While I don’t believe in last most pessimistic scenario as we don’t have any arguments why such big correction should appear, I only consider two others.
And when I thought about it more, I think last two days WAS the mentioned correction time and algos reached their levels.
Nasdaq already dropped 7% from ATH in it lowest point yesterday so I guess we could have a reversal point which will be continued in next week.